Sunday, October 16, 2022, 5PM: First, apologies to Spike Line friends, as our data feed has stopped working again. It’s frustrating, but for our analysis, we still have NYMEX data, UGA, gas price heat maps, and a couple other tricks to get a read on current conditions.
At the beginning of the month, gas prices shot up in the Midwest due to refinery woes. Like any good market, that started to correct, with gasoline flowing from elsewhere to stabilize supply, and retail prices started to fall. But, with gas prices, prices jump up fast and drop slowly, and that is what is happening again. I did see $3.99 on the Indiana/Michigan border a few days ago, and competition has brought prices down near $4 in Allendale, but we still have enough stations in west Michigan in the $4.40’s to maintain a feeling of aggravation.
NYMEX wholesale prices on the east coast actually correspond to retail prices around $3.50, and that is what you see on the heat map. So, my advice in the Midwest is to look for $4 and below, and avoid those $4.40’s until they get a clue. -EA
Buck a gallon cheaper south of the Ohio River. Fall leaf peep trips in the Smokies this year will definitely be fueled south of the Indiana border.
Lexington KY avg price – $3.35
Cincinanti Oh avg price – $3.89 (85 miles away)
Ridiculous.
Indy area hike underway to $3.999.
The greedy oil companies are playing tricks! $3.899 in Toledo! ?
Up to $4.29 today in Chicagoland. as expected. However that price did not factor in today’s additional 30c rise in spot (no word yet on why the big runup in spot the last 3 trading sessions)
4.19 NW indiana led by family express
Back up to $3.899 in SW Ohio.
Chicago spot up 45c Monday and Tuesday Same for OPIS rack. This is on track of what triggered hikes Monday by Speedway. Another should not be far behind.
Yep, secondary spike to $4.299 in Indianapolis underway.
K C…$4.49 in Chicagoland.
$4.49 NW Indiana led by Family Express…..20 cents higher than the rest of Indiana….Speedway not even budging yet. Greed Express!